I. The Resolution
of the Authority for Electricity and Gas (hereinafter just the "Authority"),
January 18, 2007, no. 11/07 (hereinafter "TIU") has brought about the
introduction of new administrative and accounting separation obligations (also
known as unbundling ) for companies
operating in the electricity and gas markets. This measure, which is made ​​to meet the provisions of functional and
accounting unbundling contained in previous resolutions of the Authority, is
part of a regulatory system made ​​up of both national and EU legal sources (among
which the following are of particular importance; i) Law 14 November 1995, no. 481; ii) Resolutions Authority no. 310/2001 and no. 311/2001; iii) the EU Directives 2003/54/EC and
2003/55/​​EC).

Law Decree No. 91 of 24 June 2014, as converted
into Law no. 116 of 11 August 2014 introduced a set of measures with a view to
favoring investments in the form of either incorporation of Joint Stock
Companies ( Società per Azioni , " S.p.A." ) and Limited Liability Companies
( Società a Responsabilità Limitata , " S.r.l." ) or acquisition of stakes in
such entities. This alert briefly summarizes the content of the provisions
recently introduced.

I. Our firm, Studio
Legale Villata, Degli Esposti, Perfetti and Associates, carries out a large
part of its work in the field of Environmental law. The establishment of Law
NO. 97/2013 on 6th August 2013 heavily influenced the regulation of
compensation for environmental damages, as it follows in the footsteps of
European Union Directives by introducing the concept of " strict liability ". This infers a type of liability which is
independent from the wilful misconduct or gross negligence of an operator and
allows for convictions based upon the damages themselves rather than the deeds
or intentions of whoever may have caused them.

THE ENACTMENT OF LEGISLATIVE DECREE 231.
At the time of its enactment in 2001, Legislative Decree no. 231 had a
revolutionary impact on the Italian legal system as it subverted a basic tenet
of Italian criminal law according to which corporations bore no criminal
liability. The assumption that only individuals could be directly subject to
criminal sanctions was erased and a
system aimed at punishing corporations for crimes committed by individuals to
their advantage or in their interest was created . A specific set of
sanctions able to punish the corporation and its shareholders was devised:
monetary sanctions and blacklisting sanctions (inclusive of the prohibition to
carry on the business activity and the appointment of receivers), which may
also be ordered on an interim basis,
apply instead of arrest and imprisonment of individuals.

The " Decreto del
Fare " ("Decree of Doing" - Law Decree 21 st June 2013, n.
69, turned into Law 9 th
August 2013, n. 98) contains regulations designed to simplify legal matters
related to the construction industry with the purpose of helping its workers
and to kick start a sector deeply affected by the economic crisis.

In 2009, Italian Law introduced a new legal instrument, Business Network Contracts (‘BNC’), which allow aggregations of commercial entities to work together in an organised and durable manner (without having to establish a new company or a consortium) whilst retaining their own independence and individuality, as well as benefitting from various incentives and tax benefits.

Expected ever since the first unofficial draft was published by the Banking Regulation and Supervision Authority ( BRSA ), back in May 2008, the new Law on Financial Leasing, Factoring and Financing Companies numbered 6361 ( Law No. 6361 )
has entered into force as of 13 December 2012 with the exception of
certain provisions-, upon its publication on the Official Gazette
numbered 28496.